Friday, August 10, 2012

Trade Alert: CXW

I just took a look at the chart of Correction Core of America CXW. Notice that it has broken to an all-time high above $32 a share. As a result it's likely to attract new money here. So, the probability that it continues up from here is much higher than it was under $32. if I were trading the stock I would buy it here with a stop at yesterday's low of $31.20.

The only thing I would like to see is a little stronger volume, but that should pick up as the stock continues higher. We will have to watch that, but I think that this is a good entry point.

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